IKAR in Mass and Industry Media

CBOT TRENDS-Wheat down 10-14 cents, soy down 9-11 cents, corn down 3-5 cents

Reuters

CHICAGO, Jan 17 (Reuters) - Following are U.S. trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Tuesday.

WHEAT - Down 10 to 14 cents per bushel

* Wheat seen lower on dim U.S. export prospects amid strong competition from global suppliers.

* Russian agriculture consultancy IKAR raised its Russian wheat export forecast for the 2022/23 season to 45.5 million tonnes from 44 million.

* Brazil's ANEC raised its forecasts for Brazil wheat exports to 753,044 tonnes in January from its previous outlook for 446,105 tonnes.

* CBOT March soft red winter wheat ended overnight trading down 10-3/4 cents at $7.33 a bushel. K.C. March hard red winter wheat was down 13-3/4 cents $8.30 while MGEX March spring wheat shed 12-1/4 cents to $9.00 a bushel.

CORN - Down 3 to 5 cents per bushel

* Corn seen lower after four straight sessions of higher closes, with spillover pressure from decline in wheat weighing on the market.

* Private exporters reported the sale of 150,000 tonnes of corn to Colombia for delivery in the 2022/23 marketing year, the U.S. Agriculture Department said.

* CBOT March corn last traded down 4-3/4 cents at $6.70-1/4 a bushel.

SOYBEANS - Down 9 to 11 cents per bushel

* Soybeans easing on forecasts for much-needed rain in key growing areas of Argentina this week as well as expectations for a massive crop in Brazil. Some profit-taking also expected following the most-active contract's rally to its highest since Dec. 30 on Friday.

* Brazilian soybean growers will harvest a record soy crop just below 153 million tonnes, according to a Reuters poll.

* Private exporters reported the sale of 119,000 tonnes of soybeans to unknown destinations for delivery in the 2022/23 marketing year, USDA said.

* CBOT March soybeans were last down 10-3/4 cents at $15.17 a bushel.

19.01.23

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